Fox Co. (NASDAQ:FOX) CEO Acquires $4,675,677.30 in Stock

Fox Co. (NASDAQ:FOX) CEO Lachlan K. Murdoch purchased 119,705 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the acquisition, the chief executive officer now directly owns 1,076,407 shares in the company, valued at $42,044,457.42. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

FOX Price Performance

NASDAQ FOX traded up $0.46 during trading hours on Friday, reaching $36.76. The company’s stock had a trading volume of 827,218 shares, compared to its average volume of 1,146,483. The stock has a market cap of $17.16 billion, a PE ratio of 11.58, a PEG ratio of 5.71 and a beta of 0.82. Fox Co. has a fifty-two week low of $25.82 and a fifty-two week high of $37.13. The company’s 50-day moving average is $33.53 and its two-hundred day moving average is $30.44. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.94 and a current ratio of 3.24.

FOX (NASDAQ:FOX) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a net margin of 11.19% and a return on equity of 15.90%. During the same period in the prior year, the company earned $0.88 EPS. Analysts forecast that Fox Co. will post 3.32 EPS for the current year.

FOX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.27 per share. This is a boost from FOX’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Wednesday, September 4th. FOX’s dividend payout ratio (DPR) is currently 16.93%.

Institutional Investors Weigh In On FOX

Several hedge funds have recently modified their holdings of FOX. International Assets Investment Management LLC acquired a new stake in shares of FOX during the 4th quarter worth about $74,000. Louisiana State Employees Retirement System acquired a new stake in shares of FOX during the 4th quarter worth about $221,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of FOX by 0.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 403,340 shares of the company’s stock worth $11,152,000 after purchasing an additional 1,670 shares during the last quarter. Everence Capital Management Inc. boosted its stake in shares of FOX by 103.0% during the 4th quarter. Everence Capital Management Inc. now owns 26,390 shares of the company’s stock worth $730,000 after purchasing an additional 13,390 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of FOX by 377.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 359,678 shares of the company’s stock worth $9,945,000 after purchasing an additional 284,353 shares during the last quarter. 26.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Seaport Res Ptn upgraded shares of FOX from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 9th.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution through traditional cable television systems, direct broadcast satellite operators, and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.